Will baby boomers get their pension?

[morganist]

I have been looking at the debt figures in Europe and the US, the total future expenditure costs not just the public debt. So it includes pensions and nuclear power plant closure costs etc. The level of expenditure is so high that I cannot see them getting a pension on either the public or private side of the investment portfolio.

The public sector pensions are so generous the state will not be able to pay. The level of private debt would also indicate some level of default that would create pension and insurance fund collapse.

I was just wondering what you all thought. I have put a poll.

 

[achilles28]

Where are the numbers you're looking at?

 

[morganist]

It is a bit old although the situation hasn't got any better since it was written.

http://www.reuters.com/article/2010/03/02/us-europe-debt-analysis-idUSTRE6211DP20100302

I have done a load of research on it too. Trust me it is worrying. The government debt isn't that bad on its own it is the future pension liability.

 

[morganist]

There was another post here but it has been moved or deleted. Does anyone know what happened. Perhaps I deleted it by accident. If I did I am sorry. Maybe I pressed the wrong button when I tried to reply.

Anyway the post said there were private pensions that were like ponzi's that they did not pay out what you paid in. These are defined contributions. I am talking about private pensions when you save and get your own money back. These will not be paid because they have been invested in government bonds which cannot be repaid.

 

[Scataphagos]

Boomers will get stiffed. The only generation to make out well on America's grand social experiment.... is the one BEFORE the Boomers. Everybody else, to varying degrees, will take it in the shorts.

 

[morganist]

Quote from Scataphagos:

Boomers will get stiffed. The only generation to make out well on America's grand social experiment.... is the one BEFORE the Boomers. Everybody else, to varying degrees, will take it in the shorts.

I am 28 what will happen to me?

 

[nutmeg]

"Pension costs will grow at a slower rate than the economy"

There, I said it.

Everything's all better now.

................................

Now wasn't that easy?

The statement will be reason to continue with the status quo.

Merely an accounting..cough..cough... function.

 

[Scataphagos]

Quote from morganist:

I am 28 what will happen to me?

You're in the UK, right? Do you even have a Boomer generation?

 

[morganist]

Quote from Scataphagos:

You're in the UK, right? Do you even have a Boomer generation?

Yes and there worse than the Americans.

 

[Scataphagos]

Quote from morganist:

Yes and there worse than the Americans.

Without MAJOR revisions in social spending, tax policies, private sector incentives... the generations behind the Boomers have NO HOPE in America... except perhaps that which emerges from the revolution to come.

If you're worse off that we, suggest you keep some soap handy. (So that if you have to bend over and kiss your ass good bye, it least it will be clean.)